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't read. there is a payroll tax of .9% and investment tax 3.8% and excise tax of which there are 159 rules to spell out how that tax applies. can you imagine how this is going to be? this is nightmare. this is so the federal government can hire millions of people to make this legislation possible. it's idiotic. they should break it around started all over. >> eric: and remember when president clinton said that it would not add to the debt and now it's trillion dollars? >> it's amazing people hate so much of it. let's note the american people when asked about the specific provisions in the affordable care act actually like it. they like tax credits for small insurance and closing the medicare loopholes and 80% of like those things and less than 50% know they are in the bill. >> let's talk about why this is going to kick in. eric they purposely wrote this thing, once it is in all the crappy things come out. knows what is going to happen to medicare costs and medicare or anything like that. good luck trying to find a doctor or nurse. they did this in purpose. they bam, smacked you with this.
your tax refunds. morgan, this is a real estate fund, a bunch of stock in real estate. >> this focuses on commercial real estate so retail, office space, apartment space. i like this because it has a low expense ratio and a decent yield. >> bill, real estate has been boy. right? >> you can get the same product in charles schwab for one third the price, it's a little like paying $11 a gallon for gas. >> you like gold and platinum. there is a fund that collects all of these precious metals. >> van guard precious metals buys miners. the reason i like it the nearly successful raid on bank kpas sits in cyprus made the world savers think about other ways to store wealth. >> cyprus. this is at a 12-month low. you are supposed to buy low. >> buy the miners themselves, don't go into this fund. i don't like the expenses. >> your fund is odyssey aggressive growth. why are you aggressive. >> they are basically a big play. look at these. up 15, 20%. really low expenses as well. great holdings in this fund. >> you like it? >> yeah. this fund is showing great growth. several analysts have published r
earlier this week about the professional caucus. that group wants the following raise income tax rate for billionaires to 49%. to eliminate many tax deductions for high wage earners in america. to tax investment income at the same rate as wages. that means if you make money on a stock and you are a rich person, you pay half your profits to the government. there is a bunch of other stuff the cpc wants including massive amount of new spending. many folks including me think this would absolutely destroy the american economy. with me is david callahan from a liberal think tank. let's take the rate for billionaires. and then they want 45% for millionaires, right? number one, i don't quite understand. i guess billionaires and millionaires would have to hand over their personal portfolio information to the irs? that would have to happen, right? >> the idea here, bill, is that donald trump and his dermatologists shouldn't be paying the same tax rate. right now, after 39 percent, everybody who makes more than $400,000 a year pays the same rate. so, it doesn't make sense that a dermatologist ma
in the mine. the amazing thing is that although the central banks have been taxing myself deposits, giving negative interest rates and by a depreciating currency, like 26% depreciation in last 10 years, the ecb would come out so openly. that is the shocking thing. and of course, people should be very worried about what happened in argentina. they froze deposits and withdrawals so that this could spread. as we look at the united states and europe and the way that the politicians are running the show, it'd heading for disaster. as simpson-bowles said, it is a cancer. there is a time when bank deposits will be threatened if we continue even if the united states and europe -- people go to banks today thinking that it will be okay to. neil: that is a good point. not that it would be imminent or a near-term threat. but the fear is, here is a vulnerable little country where this is looking like a real fear. what about greece? what about portugal? >> i mean, this is western country. the last i heard is that europe is part of the west. >> what is your fear? >> my fear is that if things go awry in
out and do these things they will talk about putting this tax on deposits, what happens from there? what's the fallout? imean that's a big deal? >> well, i think capital controls at this point is inevitable because even if, even if there is a deal, unless you have capital controls, there is going to be a massive is run on these banks the minute they open. but again, i mean we need to look at what is the alternative here? if you don't do the levy over 100,000 euros, you know, you are going to have a risk of the collapsing of all of these banks, in which case, not only the insured but also the uninsured depositers lose much more because the reality is in cyprus, the level of insured depositers is 180% of gdp which means that unless there is a deal, both insured and uninsured deposits basically evaporate. melissa: okay. lance, let's talk about what are the other options. >> sure. melissa: you talk why has the e.u. not gotten involved? is it their best interest to get involved? because if they don't, doesn't it mean russia sinks their hooks even further into this island nation? they wo
by new york state. first i was like so what? but lot of state offer tax inaccepttive to intyce business to the state and i'm for lower taxes. then i broke down the numbers. new york state is offering tax credit, not simply tax deductions. estimated at or near 24 a year. i can say the taxpayers of new york would not only not collect any taxes from the "tonight show" they will toll out steps of millions in subsidiaries to nbc. we ask, was nbc, fallon and the crew of rich fat cats need that money? >> bob: are you asking me that question? >> eric: yes. >> bob: sorry. let me -- >> eric: here is the crux of the question. >> bob: i got it. i got it. >> eric: give them free money. >> eric: i don't understand that the states that entice people to production like michigan, is it that they lose money? or don't make money? this is what happens. we give you $24 million but the economic activity that you bring when you come to the city, make up for it that way. >> dana: i think this screams need for tax reform. this is so warped that for cuomo can't get his arms around the fracking issue. issuing the
. their budget increases taxes by $1.5 trillion on top of the hundreds of billions they have already added to your tax bills at the beginning of the year. they also have no plans to say the entitlement programs even though the president knows doing is not about the costs an option. doing nothing makes no sense. budgets are about setting priorities. republicans realize we have a moral obligation to spend your hard earned tax dollars wisely. we should but only what we need to cover the functions of government and not a dollar more. that is why we support reforms to fix the programs washington should be funding and a limited programs it shouldn't and balance a budget. federali note that the government wastes hundreds of dollars each year. we need to identify and remove wasteful areas of the budget. instead the president has decided to cut on order security, first responders, and law enforcement. the director of u.s. immigration and customs recently testified before a house subcommittee that for budgetary reasons, more than 2 2200 illegl immigrants and 10 high-level offenders were released bac
.s. senate this morning approves a budget proposal that calls for almost a trillion dollars in tax hikes. and that's the very latest. hello, everyone, i'm jamie colby, and this is a brand new hour inside america's news headquarters. >> i'm gregg jarrett, glad you're with us. this nonbinding plan was approved just before dawn this morning after nearly 13 hours of nonstop voting. >> yeas are 53, nays are 46. the amendment is adopted and now there are -- there are adoptions that concur resolution is met. >> it's the first senate budget proposals in four long years and basis for future negotiations between congress and the white house. elizabeth prann is in our d.c. bureau with more. >> reporter: it may have taken almost all night for the first time passing. and a plan raising nearly a trillion dollars in new taxes and the government would still be in a deficit ten years from now. senator patty murray, however, argues it creates jobs and economic growth for the democrats, the vote is a big accomplishment. >> first of all, over the last two decades the average budget resolution considered 78
do you want to spend tax dollars. i'm going over quickly as why should we care. quickly the abc's of the relationship of key prop k plan. special arts and how that relates to the san francisco transportation plan which you will have an update on this agenda and what was the process on the schedule. this is probably the key slide. this is the big chance for the board, public, private sponsors to get together and decide what do we want to fund in the next five years. we are looking at the 13, 14, 16, 17, timeframe. one of the main objectives of this was to develop courtesy of the advisory of citizens who put together the expenditure plan. this is to provide transparency and how do we decide which projects will be funded and which won't. and what are those projects. we can see them ahead of time for the next five years. that provides earlier opportunities and allows you can to coordinate even sponsors for the projects. as i mentioned prop k was admitted in 2003. i will go some of the details. in 2003, there was over $2 billion in state and local funds. a total of $12 billion progra
for about $1 trillion in tax hikes. it does nothing to lower america's whopping $16 trillion debt and it now sets up contentious negotiations with a republican-controlled house. hello, everybody. i'm live in the nation's capital. america's news headquarters starts right now. >>> folks, it was a senate all-nighter. finally in the early hours of the morning, the budget deal passed. not one republican voted for the plan and four red state democrats, who are up for re-election in 2014, also voted against it. we are joined now with the very latest on the last-minute scramble to get the deal done and where it goes from here. elizabeth? >> reporter: after 13 hours and 6 minutes, the senate narrowly approved the budget plan, passing 50-49. during the marathon session, senators were facing more than 500 amendment bus they voted on about 70. the vote-a-rama getting praise from the top members. >> i know everyone is exhausted. you may not feel at the moment. this is one of the finest days in the senate in recent years. >> reporter: the resolution raises nearly $1 trillion in new taxes. the government w
and finally got done about 6 months later. looks great, needed to be done and i looked at my tax bill a couple months ago and i wasn't supposed to have my taxes raise today do this. it went up a lot. >> thank you. i will be asking about dbi and make sure we are being coordinated on this. next speaker. >> mr. chairman, representative of the committee, i'm with the association of realtors. we support the ordinance and in particular we have been very pleased with the progress we have been making with the city staff and sponsors and authors of this legislation for one amendment that we have requested and that is to require disclosure at the time of sale. we have crafted the amendments submitted them to mr. leaney and he's committed to work with us and craft that legislation and insert it in the appropriate time as soon as possible. this will help facilitate the intent and direction of the ordinance as well as a shorter greater compliance at the time of sales. thank you very much. >> thank you very much. would that be trailing legislation? no. great. thank you, next speaker. >> good afternoon, my n
introduce $20 billion in additional taxes this year and $40 billion in new taxes next year. so the deficit under the democratic senate budget proposal which only thing we've got at this point, calls for more spending and more taxes and bigger deficits. that is not where the american people are. recent polls this week showed that 55% of the american people favored the republican budget plan. if you took the word republican off of it and simply described would you support a budget that balances the budget and raises no taxes and cuts $5 trillion of them favor that 55% to 24% that budget that would raise taxes by a trillion and cut spending by hundred billion and not balance the budget which is what the democratic budget calls for. >> greta: we are 18 months out from the 2014 election. we have the house has passed a budget and senate has passed a budget. it will go to a conference for reconciliation. both parties have made it sent tral focus of 2014. it is a signal they are more interested in winning and making sorted smear each other's face with each other budget rather than drawing common g
henneberg live for us in washington. critics say the rollout will mean more taxes. republicans andhs and democrats voted to repeal the medical device tax. on everything from latex gloves to wheel chairs to dental instruments. but you insurance industry advocates warn that more taxes from the law are coming down the pike. >> the reform law you includes a new $100 billion tax on health insurance that starts next year. 2014 it will be $8 billion. that will mean an average individual is going to pay over $100 more on the the premium as a result of the alone. small businesses will pay over $350 for each family they provide coverage for are. >> reporter: but president obama contends that obama care is already saving seniors money on prescription drugs and allows young people to stay on family health plans until age 26 and is slowing the growth of healthcare costs. harris? >> harris: i know the president is also saying that there will be more health insurance options for americans later this year but that is also running into some trouble. >> reporter: yes, the obama care law creates insur
costs is beginning to slow. but they want to repeal part of obamacare. a tax on medical devices that would have increased the costs we pay for things like latex gloves to wheelchairs to hip replacement. there is still $1.3 trillion in other taxes that are set to hit over the next decade. house republican speaker john boehner put out a statement on obamacare. he said, quote, far from bending the cost curve, it's projected price tag is nearly doubled. health insurance premiums are expected to climb further when the law takes full effect next year. the millions of jobs democrats promised is nowhere to be found and businesses large and small are already pointing to the impact of obamacare as the reason for planned layoffs and reluctance to hire more staff. republican controlled house passed the budget that repeals and de-funds obamacare but in the senate in this week a measure to repeal obamacare was voted down. >> the beat goes on. thank you very much. >> gregg: not much has changed. >> the senate approving a democratic budget in a late nightmare thon of voting. >> the ayes are 50,
controversial question about a deposit, a compulse or pi eposit tax and what -- compulsory deposit tax. they are proposing 20% of accounts over $130,000 in the bank of cyprus and 4% on the other banks in the sector, bank, the ean lyki second biggest. in theory, these two deposit haircuts won't require another vote, so this makes up another total package, including the plan to save the banks, wind them up and save the cost of recapitalizing, that the cypriots can take on sunday to the euro group and finance mirnses and the i.m.f., based on closed-door meetings that have been going on all day with the troika and say here's our compromise, give us the bail out so we can get opened. it looks like cyprus now is tantalizingly close to a deal. but it it won't come without significant pain for many. peter sharp has this report. >> the people of cyprus had endured a week of increasing uncertainty. as the talks dragged on they took to the streets for yet another night to voice their fears and frustrations. >> if they don't realize that we have strength and we will fight, if they lead us to a dea
the regular life. phillips'. - uh, hey... - i'm bob, we talked at the tax store... i did your taxes. i thought you were a tax expert? announcer: major tax stores advertise for preparers with no tax experience necessary. at turbotax, you only get answers from cpas, eas or tax attorneys. >>> before kathie lee took off we had a chance to sit down and talk with this great actor, gerrard butler. >> why didn't you wait until i was here. >> we wanted to hog him for ourself. >> the hunk who hails from scotland, gerard butler takes on a range of roles from romantic comedies to thrillers. >> his new movie is old-fashioned. he plays a secret service agent who is on the outs until the white house is seized by terrorists and the president is taken hostage. take a look. >> yes, the president is in the bunker. being held hostage. >> what do they want? >> we'll try to find out. >> who's in charge? >> trumble. are there any survivors with you? >> negative sir. they wiped us out. in the hallways with enough explosives to take out an army. >> okay. >> gerard is with us today. i'm shaking because i just finished
obamacare tax, the medical device tax on everything from latex gloves to wheelchairs to dentsal instruments. but health insurance industry advocates warn more taxes from this law are coming down the pike. >> the reform law includes a new $100 billion tax in health insurance that starts next year. 2014 will be $8 billion. that's going to mean an average will pay $100 more on a premium as a result of this tax alone. small businesses will pay over $350 for each family they provide coverage for. >> president obama said in a statement today that obamacare is already saving seniors money on prescription drugs. and it's slowing the growth of health care costs. the president also said in a statement today that, quote, beginning in october, you'll be able to sign up for new private health care plans through a new health insurance marketplace where private plans will compete to save middle class families money. but because many states say these marketplaces, these exchanges are too unwieldy and expensive for them to set up on a local level, it false on the federal government to set them up. >> no mon
for 1 trillion in tax increases over the next decade. elizabeth plan will break it down at the bottom of the hour. president obama wrapping up four day tour in the middle east. before leaving israel the president managed to broker a an apology from netanyahu to the british prime minister over commando raid turkish ship that killed 8. he admitted mistakes were made in 2010 as forces were nato embargo. >> can i tell you about this meteor? >> i love that i was up up all night tracking this. this was the meteor they were talking about if you live along the east coast. it's all anybody is talking about. video of reportedly a meteor over a home in maryland from north carolina all the way up to maine. hundreds of people reported official across the sky. claims to captured the security video too. nasa experts says the space rock was probably the size of a softball or volleyball. they are not sure what size ball it was. perhaps a basketball. it burned up in the atmosphere though. >> alisyn: thank goodness. thank you for monitoring that. please call me immediately if you see it heading towards
of the little things we saw like a vote yesterday in the senate to repeal the medical device tax in obama care, not going to be binding. so even though they took dozens and dozens, they considered more than a hundred amendments in the last 24 hours, none of those will have effect. t was mostly symbolic. host: we go to james. caller: everybody is complaining about government shutdown and all the situations we are dealing with. i want to ask the question why isn't anybody going back to the root of this situation when we got into this with president bush with illegal war. now president obama is bringing the soldiers back and the war is over. where are the funds from that to be utilized back into society and all the oil we got from you is dam hugh sane. why isn't going back to the fact the reason we got into this is what happened with bush and his administration and obama had to pull us out of that. nobody was complaining about hutdown and all these problems that happened. host: we'll leave it there. guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the
to realize that it's now coming up with a split roll tax to have all the owners to increase their property taxes by 2 or 300 percent. i don't feel that many of us can withstand all the expense and i think a lot of this we'll have to give up our properties. we will buy something somewhere else. i don't know how that will impact the economic situation in san francisco, but we just can't do it. we are still paying the same maintenance, city tax on water and garbage and although our buildings are worth more until we die. >> thank you very much, next speaker. >> supervisors, thank you very much. i'm a private consulting structural engineer in san francisco. i'm here to speak in behalf on the cap ordinance and seismic safety program being proposed. i commend the supervisors and mayor who have propose td program. i think it is vital as a past member and president of the san francisco commission, i know how hard it was to get this program started, implemented and going. i'm fully in support of this. i hope i speak for the rest of my peers in the engineering community. this is vital and should be
to reclassifying the property as a higher tax rate that states law allows you to do that as retrofit. additionally we are looking into the loan process and these buildings maybe historic and landmarks. it would require a vote. with the mellow roos, they effectively become the voting body so they get to decide between the group when money is build out for these i am improvements that is repaid for their property taxes and gives them the mechanism without taking a loan individually. that is an interesting feature of it. if these properties change hands. the loan actually goes with it and the person who originated the loan is relieved from the debt. >> then in terms of the actual work that's being done, there was reference made before which is issued that i have been thinking about. in terms of making sure that the process for property openers owners who are complying with the law and somehow got financing and want to do the work and have to get to the planning department and planning of building inspection. what is your competence level that will our policy intent to expedited this process to make
and the rest of it. >> paul: you don't object to the government taxing, so-called syntaxiin taxing, say he we want to defer the use of that? >> this is a real problem, it's a vision of government which is supposed to lead citizens to virtue. that's very different. that's not the constitutional vision. we have a free society in which people make choices and then accept the consequenceses of those choices. i would add, by the way, i can think of few measures designed to make cigarettes popular again among young people than to put them behind counters and make them seem elicit and cooler than they ought to be. >> this isn't just mike bloomberg's obsession. it's huge in public policy, how would you want to look at behavior of people, seat belt laws and singapore has a mandatory savings program, we do not. another big example, the board that barack obama set up in the middle of obamacare, the 15 people who in medicare will decide which medical practices work and which ones don't and the whole medical community will be asked to comply with this. the bigger question and that board is is an example,
? >> this is a miss for new york governor andrew cuomo who wants to extend the temporary tax increase on high income earners in the state after promising to let it expire. for the second time extending that temporary tax increase. do you think voters would learn after a while they're being played here? apparently not. out in california governor jerry brown sold californians on a temporary tax increase for high income earners in his state. i guess the blue state liberals never learn. >> paul: bret? >> briefly a hit for pope francis off to a fantastic start and i think this is obviously true for catholics and even as a non-catholic you see a pope getting out and mingling with people and showing love and humility to the people assemblying by the hundreds of thousands in rome to see him. next week, he's going to go and wash the feet of inmates in a prison for young offenders and this is the right way it seems to me to conduct the papacy and wish him continued success. >> paul: thank you all. and remember, if you have your own hit or miss, send it to us at jer@foxnews.com and follow us on twitter: @jer o
against california company and is one is prop 30 which raise raises income tax on high earners and why should they come herein instead of somewhere else? >>> first of all, the pressure of our locally grown skeet successful equips are growing and if they can grow within the bay area and so, i'm alms -- between san francisco and oakland, that you believe [inaudible] employee and is i had you raise your hands already and you are going to expand the idea that meet leading edge companies say they want to be with the talented and with oakland being the liberator and home of the -- technology in general and thriving arts and cutting edge innovation in general in areas we really have the talent here in the bay area and i think that is critical and also, i think we are looking at investors internationally and frankly at an -- promising a lot of our time to chinese investors and really an international economy but we are looking at not just across the country but to invest and -- in the bay area and it's not goal of -- 50% there and to ed we are a region and many of these companys are going
go about securing funding for the various graffiti programs? do you use grants, tax assessments, et cetera? anybody? >> i think i can take that. >> okay, ready. >> for anyone who didn't attend my session, i do a juvenile program where i take kids who have been convicted of graffiti crimes to do community service on saturdays. the way i do this is get a public grant from department of public works where we take kids out to graffiti hot spots, we paint over graffiti and they get a reduced fine and credit for probation officers. this is done through a public grant. it's a very effective program. we have been able to turn a lot of kids around, restore justice. we get a lot of positive feedback from the community, a lot of other officers are happy to get the overtime. and as an officer, you're really able to facilitate the program well because you are able to put on a lot of different hats, communicate with probation, you communicate with traffic court judges, with community referral center, and with station personnel. so, you really act as a good communicator and facilitator in the prog
. that includes a controversial tax on bank accounts to fund the bailout. >> people in cyprus brave the storm to protest outside parliament ahead of a crucial few hours for the country. inside, lawmakers are voting on a series of measures designed to help the financially stricken nation meet the terms of an international bailout package. few of the plan's details are known, even to eurozone officials in brussels, but an unpopular one of tax on savings could be back on the table, particularly on bank accounts with deposits of at least 100,000 euros. the plan needs to be in place by monday when the european central bank says it will withdraw financial aid for separate -- separate -- cypriot banks. >> a lot of people will definitely lose their jobs and benefits. >> cyprus needs to raise 5.8 billion in order to qualify for the bailout. its eurozone partners in the imf would then provide 10 billion euros in rescue loans. the fund raising measures under discussion include plans to restructure the country's second biggest lender and tapping state pension assets. >> all right, our correspondent is k
taxes, it would curb spending by repealing obama care and eliminate the deficit in ten years. $4.6 trillion in cuts. zero chance of passing in the democratic-controlled senate, it's dead on arrival. >> lawmakers in the house and senate approved legislation to fund the government through the end of september. that avoids the risk of a partial federal shutdown. in the process, they are on spring break for a couple weeks. what's your take on this? >> my take is the whole financial dysfunction of our congress is mind blow iing. you look at this week. let's say frederick, maryland, where there's air traffic control that will be shut. a tower that was built by the stimulus money. so stimulus money went into this tower. the government saying it's a priority. and the the government because of its dysfunction saying we have to shut is down. that's a perfect representation, i think, of how washington is not doing its job. we can't even pass a budget. it can't even run the books. there's no strategy. when you look at some of the spending cuts, you see a lack of a strategy in american financ
to kick out cypress? >> anything is possible. you know, i think the outrage over this deposit tax is about the honesty of the approach. if youthink about it, citizens around the world suffer from that tax. in the united states, how long have we had 0 #% interest rates in the united states? how much money have savers lost who keep money in the bank because they have not received interest on deposits all these years? what about prices? because the federal reserve does quantitative eang, food rices go up, gas prices up, and deposits lose value. at least with the tax in cypress, it was more honest. the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are yoconcerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to have runs
as democrats went on record favoring almost $1 trillion in tax increases. little talk about that a later on in the program. for the first 45 minutes of this edition of the washington journal, we are going to be talking about the affordable care act. thirdebrates its anniversary today. it is known as obamacare. we want to find out your thoughts about the affordable care act three years and. here are the numbers, if you want to give us a call -- reach out to also us by social media. you can follow us on twitter, we you canacebook, and send us an e-mail. the address is journal@c- span.org. thatis one of the items came from yesterday's express, the washington post express. the headline -- want to show you and let you listen in to what the president had to say the signing of the affordable care act three years ago, and then we will get to your calls. [video clip] >> it was your work, your commitment come a your unyielding hope that made the surgery possible. when special interests deployed an army of lobbyists, negative ads to preserve the status quo, you did not give up. you hit the phones a
this morning, the first in four years and this 2014 plan calls for a trillion dollars in tax increases over the next decade. no republicans voted for that bill and four democrats voted against it and goes to the house where it's expected to be shot down. senators recently voted on a proposal passed by the republican-controlled house. they are under orders to trim hundreds of millions from their budget so the federal aviation administration plans to close 149 air traffic control facilities at smaller airports across the country forcing pilots to coordinate takeoffs and landings themselves over shared free kwnssy. they're treming for the rest of this fiscal year. i'm jamie colby, now, back to bulls and bears here on the fox news channel. have a great day. >> brenda: get weighed or be prepared to pay. a pharmacy giant. cvs is requiring employees to have their vitals checked. including their weight f they don't they may have to cough up $600 a year for health insurance. john, you say the so cost saving plan is going too far. >> this isn't hooters, girls have to look good in shorts serving wings
dollars in tax increases, that's just over the next decade. no republicans voting for the bill, four democrats voting against it. now goes to the house where it is expected to be shot down. senators recently voted down a budget plan passed by the republican controlled house. how about this. there is a lot of buzz over a possible meteor spotted last night. we have video for you from maryland. hundreds of people from north carolina all the way up to maine reporting a bright fire ball flash across the sky. a car dealership in d.c. claims to have captured it on security video. experts say the space rock is probably the size of a volleyball and burned up in the atmosphere. now you know. i'll see you again at 1:00 p.m. eastern. back to forbes on fox. >> too little too late for too many workers. a new report revealing 30% of young americans say they have no confidence they will have enough cash to retire comfortably. that is a record high. before we hear the forbes flip side on why we need to ditch social security listen to what they have to say. >> i save on my own. i don't trust social se
the deficit long term. the democrat budget, of course, talks about a big tax hike over ten years of about $1 trillion. republicans say they're not going to do that. they want to roll back obama care. these are the two outside extreme positions. that's where we're at now. going forward can they come together and find some middle ground? >> weigh in on that, lauren. is there really a chance for reconciling these two extreme budgets? >> i think david kind of nailed it here. when it comes to the budgets, they're just a little bit too far, but this budget process isn't a waste of time. i think it's promising that they went through regular order. this is something that the senate hasn't done. they haven't passed a budget this a long time. i think what we'll see is this may open the door to pass some appropriations bilts for 2014 and this could put us on the road for a long-term deficit reduction deal. these are just opening gothss here. >> david, as i look at your article, it focuses on immigration reform and how it's making its way through the senate. where do things stand right now? >> alex, the
. but these guys are taxed in local places they would love to get a break to bring it back here. they are worried about it having it here under this environment. there is an amazing opportunity being lost. >> neil: think about if you are looking at the economy turning around and betting on a turnaround you would use that money and invest in equipment, new shops. what a lot of these companies tend to do is boost their dividend, buy back stock, take out a competitor but they don't expand? >> one of the problems with apple it's got a problem because it's too successful. you want to be careful that you don't do something with it. apple can't sell more iphones by spending more money. it needs to avoid making acquisitions, cisco bought the flip camera business and it was a disaster because the company was under pressure to spend the money. the fact of sitting on the money is how well they are doing. >> i would say this is a big debate in corporate america. imelt addressed it in a world that you have to worry about terrorism you need to keep a lot of cash on hand. >> neil: sit good or bad sign to you? >
with the most basic of spending cut and tax revenue frameworks was beyond the skill level of this congress there was another way to completely avoid the arbitrary cuts. >> we will be amongst the first on the floor to nullify that provision. scong not bound by this. it's something we passed. we can reverse it. >> i think we'll bypass the trigger mechanism. we'll say time out it doesn't apply. >> jon: all they had to do was go -- i get i. passing a budget can be hard but time out (bleep) is easy. that's why the founders in their infinite wisdom gave congress three timeouts per legislative session and one not it. [ laughter ] but it still happened. because congress as always its infinite wisdomming forgot how (bleep) incompetent they are. it was like they tied a belt around the neck and looped it over the shower curtain in the hopes that this pressure would somehow heighten the sensation of getting something done. [laughter] [cheers and applause] here is the thing. here is the thing that couldn't didn't realize. here is the thing about autoerotic asphyxiation. everybody thinks they can pull i
-immigrant just somebody on a diet is anti-food is regulation. john: but they pay taxes and don't collect welfare. >> the cost of illegal immigration last year was $113 billion in spee areas of health care, education and incarceration. john: you don't include the cost of paying taxes and starting google. >> here we are with libertarians the focal pot* is limited government chaldean rejected thinking and be careful what you ask for the new push for an -- amnesty because the overwhelming majority is %-dependent. government john: how many are not from the united states? how many would like to be citizens sunday? just a couple. >> we all succeed when they succeed. do we want akilled immigration yes we need less but it should be skilled. john: that is just half of a @%rcent. >> the city of dallas year afr year with. if you have more enforcement which is nonexistent. >> they allow me to go to work every single day. john: on that note we are john: we are back with the "students for liberty" conference. how many think you want to go into business when you graduate? may be more than half. how many have fr
challenge of organizing a taxed and regulated market in way that is plekt public health and public safety. >> why did boe tech win? >> they were the highest individual scores in each of the four categories. >> some have called the position the state's drug czar. >> i don't believe that's our official title. >> the competition for the contract was fierce. >> we ended up getting a ton of responses, actually 112 submissions received by the agency, and 95 of those were actual proposals. out of that we had 43 proposals deemed non-responsive. >> wonder why. the pot head consultant bo tech's ceo mark kleinman is already controversial among activists because he expressed concern about state legalization efforts conflicting with federal law. >> we have no idea what the federal government is going to do. if they step in with an injunction, we won't implement based on the dates in 502, but i don't see that will stop us in putting together the framework. >> financial terms of the deal still are being negotiated, but it is budgeted at $100,000 a year. there was one final question for the weed wardens
a slower start because of the tax that weighs on consumer spending in the first couple of quarters inflation is more or less in line with the fed's target rate of roughly two% and i i think we do a farrell decedent job with our forecast and you can tabling me into talking about upside or down side risk here with you there is one line federal funds target rate and i feel confidant about our forecast for that line because the federal reserve is told that is where they are going to keep the short term interest rates between now and 2014 and if you are looking at the ten year rate and wondering when can i expect to put money in a cd or short-term savings account and expect a normal rate of return, unfortunately probably not at anytime in our 44 cast period and if you look at the treasury it closed at one 99 and two% for the last couple of most and is for the next two years it doesn't get above 2.6% and so what we are really saying there is if you look at united states treasuries right now the two biggest buyer of threshys are the united states reserve and they are going to continue to
will be taxed as a way to raise money. they don't understand why investors here like you and me aren't more worried that the authorities there are willing to risk bank runs in spain or italy because of this hair-brain scheme. at this stage they would gladly pay for rioters in the streets of cyprus if we can get the media to accentuate today and link cyprus to the rest of europe and the united states, even if the european authority recognize that is the issue is that banks are safe havens for russian laundered money! the short sellers, they would at least pay cash for the numbers to line up. once they get some runs going leads me to the simple conclusion that intellectually short-sellers will do the best to say whatever resolution is arrived at or not arrived at, we have got the dreaded are you ready scheme daddy lehman brothers on our hands! wow. yes, they are invoking lehman. that's what they're doing. why lehman brothers? because you know what? lehman is code for thermal nuclear financial war. it was the line drawn in the sand because the regulators had had enough with the bailouts. remem
for the first time in four years with tax hikes and budget cuts. it sounds reasonably constructive but is it less than meets the eye? abc's reena ninan is in washington this morning. what's the real story here. >> reporter: dan, you would think progress but really not really. no republican senator voted in favor of this budget. and the republican controlled house has their own very different plan. it's against the new taxes in the current senate plan and also calls for more spending cuts. the truth is neither budget plan will ever be put in and despite all that, the senate leaders sounded optimistic. >> i know everyone is exhausted and you may not feel it at the moment, but this is one of the senate's finest days in recent years. >> hard to understand why he sounds so optimistic calling this one of the finest days. there's another cliff looming. can you tell us about that? >> reporter: the senate and house will have to reconcile their differences. if not, surprise, there will be another showdown likely in august over the debt limit. >> your government at work. ladies and gentlemen.
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